Corner Grocers reported the following for its two most recent fiscal years: (Click to view the information.) Calculate the following for the year ended December 31, 2012 X * - More Info 1. Current ratio 2. Accounts receivable turnover ratio 3. Inventory turnover ratio 4. Return on assets 5. Return on equity December 31 2012 $ $ 1. Calculate the current ratio for the year ended December 31, 2012 Begin by selecting the formula used to calculate the current ratio. Then enter the amounts to calculate the current ratio for 2012. (Round your answer to two decimal places.) Cash Receivables (net) Merchandise inventory 25,000 60,000 55,000 280,000 2011 20,000 70,000 30,000 260,000 380,000 J = Current ratio Plant assets (net) 420,000 $ 2. Calculate the accounts receivable turnover ratio for the year ended December 31, 2012 Begin by selecting the formula used to calculate accounts receivable turnover. Then enter the amounts to calculate the accounts receivable turnover ratio for 2012. (Round your answer to two decimal places.) Total assets Accounts payable Long-term notes payable Common stock = Accounts receivable turnover 45,000 75,000 135,000 165,000 420,000 62,000 100,000 122,000 96,000 380,000 Retained earnings $ $ 3. Calculate the inventory turnover ratio for the year ended December 31, 2012. Begin by selecting the formula used to calculate inventory turnover. Then enter the amounts to calculate the inventory turnover ratio for 2012. (Round your answer to two decimal places.) $ Total Liabilities and Shareholders' Equity Net income for the year ended 12/31/12 Sales (all sales were on account) Cost of goods sold Interest expense = Inventory turnover ratio 75,000 450,000 210,000 1,500 4. Calculate return on assets for the year ended December 31, 2012 Begin by selecting the formula used to calculate return on assets. Then enter the amounts to calculate return on assets for 2012. (Round your answer to Print Done = Return on assets 5. Calculate return on equity for the year ended December 31, 2012 Begin by selecting the formula used to calculate return on equity. Then enter the amounts to calculate return on equity for 2012. (Round your answer to two decimal places.) = Return on equity